We updated you last week about a new requirement to declare overseas income in the Charity Annual Return.
As we outlined, this will cause a great deal of work for charities to analyse and report. We were not alone in pointing this out, and the Charity Commission was lobbied by numerous charity groups.
For the moment, the Commission has relented, and has now said that this will not be a requirement for the 2017 return. For the 2018 return, this may be a requirement, subject to consultation with the charity sector.
So – whilst there may be a stay of execution, this requirement is still on the table. Our advice to consider how to get the necessary data stands – but so does the comprehensive range of services we offer to charities, including practical guidance on complying with regulations.
For more information, please get in touch with your usual contact partner or use our enquiry form.